1 February 2010: The Asian Development Bank (ADB) will carry out a comprehensive study on the economics of climate change in China, Japan, the Republic of Korea and Mongolia.

The study, titled “Economics of Climate Change and Low Carbon Growth Strategies in Northeast Asia,” is being financed by a US$1 million grant from the ADB, and a US$0.8 million grant from the Government of the Republic of Korea. The study will provide the region’s policymakers with the latest information on mitigation and adaptation strategies, and suggest policy responses to cope with and counter future climate change impacts.
The study will: map out and assess current climate policy and adaptation measures in the four countries and at the regional level; prepare marginal abatement cost curves to analyze the greenhouse gas mitigation potential of technology options; develop a climate policy simulation tool to generate economic indicators to conduct quantitative and qualitative assessments and eventually show the economic consequences of different packages of climate policies. Last, a final report will be prepared covering all the findings. [ADB Press Release]